What Do You Do For Work?

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Work in the regulatory side of the finance sector. My tip to fellow Hawkers - don't trust about 98% of people in the finance sector (sorry if you are one of the rare good ones kirbatron).
 
I have been a Loan Processing Officer for 4yrs and currently completing accreditations to become a Mortgage Broker.

Ponderings:-(not financial nor credit advice)
  • Pay weekly or fortnightly if you can (helping to pay less interest and the loan off faster).
  • Compounding interest is great when you’re saving. Not so great when you’re paying the mortgage.
  • Don’t pay the loyalty tax to your bank- have they got you on a better rate than their new clients? 99% of the time the answer is no. See a mortgage broker.
  • Don’t borrow the maximum amount you will service for (if you can help it) as once you add on the interest to repay on top of the principal, unless your income increases you many struggle to pay it off fast.
  • If you’re a first home buyer, look at the various government grants and guarantees that can help you purchase your first residence.
  • Interest only loans have a purpose and may be good for some but remember you still have to pay the principal off.
  • Fixed v Variable rates- the bank will win if you fix in most cases.
  • A good mortgage broker wants you to do well. Not just flog you an investment property loan down the track. Are they listening to what you want?
  • Financial literacy for kids and young adults is so important!
 
Ned Ryerson said:
Work in the regulatory side of the finance sector. My tip to fellow Hawkers - don't trust about 98% of people in the finance sector (sorry if you are one of the rare good ones kirbatron).
Click to expand...
A non-compliant financial advisor or broker won’t be in business too long.
 
As little as I can get away with.
 
Worked in myriad different roles in technology for 30+ years, currently in customer success for a B2B US software company. Previously have done cyber security for financial services for over a decade, research and high performance computing, ITSM consulting, management consulting, working on a help desk before they were called service desks...

Top tip or learning from all of that is that technological advancement is not linear; it is exponential. Humans tend to think in terms of linear progress. This means that a "new" technology tends to not meet expectations at the start, and then exceed them further on. I recall working on precursors to LLMs ("natural language processing engines") back in the late 90s and having funding pulled as they didn't meet expectations (look at "how quickly" LLMs such as ChatGPT have advanced)... and the multi-party video-conferencing systems we set up in 2003 called the Access Grid with other research institutions around the world for 6 and 7 figure sums which you can now get basically built into a new computer... and... and...

My side hustle is an exotic dancer, and top tip is to refuse any hens gigs which are not within a 10 minute walk of Melbourne's tram network.
 

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